Economics MCQs

A. Is derived from the average fixed costs
B. Converges with the average cost as output increases
C. Equals the total costs divided by the output
D. Equals revenue minus profits

A. Marginal cost is rs20
B. Average cost falls
C. Variable cost rises by rs100
D. Average fixed cost is rs10

A. The total product will fall
B. The average product will fall
C. Average variable cost will fall
D. Total revenue will fall

A. The firm is making a loss and will shutdown in the short term
B. The firm is making a profile
C. The firm is making a loss but will continue to produce in the short term
D. The firm is making a loss and is making a negative contribution to fixed costs

A. Fixed costs
B. Variable costs
C. Total costs
D. Revenue

A. Profit
B. Profitability
C. Feasibility
D. Realism

A. Price plus quantity
B. Price multiplier by quantity sold
C. Price divided by the quantity sold
D. Price minus quantity sold

A. 7as
B. 10as
C. 3as
D. 1a

A. Demand
B. Land
C. Labour
D. Capital

A. Allocatively inefficient
B. X inefficient
C. Consumer inefficient
D. Productively inefficient